Jefferies analyst John DiFucci lowered his price target on Check Point to $117 after its Q1 earnings, saying that while the company reported results within the revenue and profit guidance, its billings, subscriptions, and outlook were all below expectations. DiFucci keeps his Buy rating however, noting that Check Point is still a well run company that can improve its results with the next product refresh while attributing the shortfall in Q1 to the product cycle. The analyst also points to the company's "substantial" cash position allowing for the possibility of M&A or shareholder returns.

Sees Q2 revenue $607M-637M, consensus $623.27M. Comments taken from Q1 earnings conference call.